Arrested Huawei CFO makes appearance in Canadian court as United States seeks extradition

Huawei’s chief financial officer faces fraud charges in US says Canadian prosecutor

Meng Wanzhou, 46, was arrested in Canada last week and is wanted in the U.S. over "fraud offences", a Vancouver court heard during a bail hearing on Friday.

China has called for Meng to be released and world markets are watching closely due to fears that the case could escalate the trade war between the USA and China. Until then, she will remain in custody.

Meng is accused of committing fraud because she told banks in the United States that Huawei and Skycom, a Hong Kong-based company reportedly doing business with Iran, have no connections. This put the banks at risk of breaching sanctions.

The U.S.is accusing the company of using subsidiary Skycom to do business with Iran, which would bypass sanctions. The alleged sanctions breaches occurred between 2009 and 2014.

US President Donald Trump did not know about the arrest in advance, two US officials said.

"Huawei is SkyCom. This is the alleged fraud", Canadian prosecutor John Gibb-Carsley said. He said Meng, arrested en route to Mexico from Hong Kong, was aware of the investigation and had been avoiding the United States for months, even though her teenage son goes to school in Boston.

Trump had met Xi at the weekend and agreed to a 90-day tariff truce in order to find a more permanent solution to the costly dispute, but messages since have been mixed, roiling global stock markets.

Trump himself sought to inject a note of optimism into the proceedings, going on Twitter before dawn Friday to say: "China talks are going very well!"

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Of course it does, and yet we have to have a relationship with these individuals- or with these countries". Still, the agency later agreed to do an additional briefing with a select group of senators.

Meng arrived in the packed Supreme Court of British Columbia as dozens of photographers jostled outside the building. U.S. authorities say the company has started recalling US-based employees who could serve as witnesses in the supposed Iran sanctions violations case, and executives began avoiding travel to America as early as April 2017, upon learning of the investigation.

"The threat from these companies lies in their access to critical internet backbone infrastructure", she said.

"Obviously, Washington is resorting to a despicable rogue´s approach as it can not stop Huawei´s 5G advance in the market", it went on.

Since Saturday, the telecom executive has been detained at the Alouette Correctional Centre for Women, a facility 50km outside Vancouver's downtown core.

As China pressures Canada to release her, the detention has also created domestic political fissures with opposition parties expressing frustration over a lack of information from the federal government. All security costs would be borne by her. The court heard Meng´s husband Xiaozong Liu owns two mansions in the city.

"China plays rough. We need to be on our guard and need to be aware that we're going into a very hard period with China", said David Mulroney, Canada's former ambassador to China.

The judge has lifted a publication ban that was in place at Meng's request thanks to a lawyer representing several media outlets.

"I can assure everyone that we are a country (with) an independent judiciary", Trudeau told a tech conference in Montreal. But the company has faced widespread allegations that is it is an espionage organ of the Chinese military and security services - an accusation the company strongly denies. "They had been warned, and finally we had to prosecute that", he said. This is also believed to have helped Huawei "circumvent United States sanctions by telling financial institutions that a Huawei subsidiary was a separate company".

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